7 December 2005

Loss Recoupment Rules

The Howard Government today proceeded in the Senate with the loss recoupment rule provisions.

The Government proposes to explore options for improving the operation of the same business test. Business and professional groups are invited to forward their submissions to Treasury by 31 January 2006 for consideration by Government in the Budget context.

Industry indicated there were other benefits provided in the Bill which they prefer to have in the short term, which is why the Government proceeded with the Bill in its current form today.